By Cristal Cody
Tupelo, Miss., July 17 – Voya Alternative Asset Management LLC priced $569 million of notes due July 15, 2027 in the Voya CLO 2015-2, Ltd./Voya CLO 2015-2 LLC deal, according to a market source.
The CLO printed $3 million of class X floating-rate notes at Libor plus 100 basis points at par; $335.5 million of class A floating-rate notes at Libor plus 140 bps at par; $71.5 million of class B floating-rate notes at Libor plus 198 bps at par; $41.25 million of class C floating-rate notes at Libor plus 270 bps at par; $33 million of class D floating-rate notes at Libor plus 340 bps at 95.33; $24.75 million of class E floating-rate notes at Libor plus 530 bps at 92.2 and $60 million of subordinated notes.
Morgan Stanley & Co. LLC was the placement agent.
Voya Alternative Asset Management will manage the CLO, which has a two-year non-call period and a five-year reinvestment period.
The deal is backed primarily by broadly syndicated senior secured corporate loans.
Proceeds from the offering will be used to purchase a portfolio of about $550 million of mostly senior secured leveraged loans.
The firm previously priced the $612.5 million Voya CLO 2015-1 Ltd./Voya CLO 2015-1 LLC transaction on March 3.
Voya Alternative Asset Management, part of New York City-based Voya Investment Management LLC, brought four CLO deals in 2014.
| Issuer: | Voya CLO 2015-2, Ltd./Voya CLO 2015-2 LLC
|
| Amount: | $569 million
|
| Maturity: | July 15, 2027
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Voya Alternative Asset Management LLC
|
| Call feature: | 2017
|
| Pricing date: | June 23
|
| Distribution: | Rule 144A
|
|
|
| Class X notes
|
| Amount: | $3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | $335 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aaa expected
|
|
|
| Class B notes
|
| Amount: | $71.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 198 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C notes
|
| Amount: | $41.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 270 bps
|
| Price: | Par
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class D notes
|
| Amount: | $33 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Price: | 95.33
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class E notes
|
| Amount: | $24.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 530 bps
|
| Price: | 92.2
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Equity
|
| Amount: | $60 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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